European Stars And Stripes (Newspaper) - March 19, 1962, Darmstadt, Hesse                                It stars and stripes 23 i jul mater stocks new High i7ork up stocks were the Over the counter week following Theiron the Amox and the Lonal quotation Bureau 35 representative Indus Rose to a new 1962 h High on wednesday and close the week. Issues were easier. , topped 4 and chemical York Trust slipped z stocks showed life in co. Of Virginia up 12, National life up 8 and insurance off 4,  business briefs february car sales 26% Over last year Detroit up the Auto Industry sold 456,872 new cars n february a 26 per cent increase Over the 360286 units delivered inthe same period a year ago. Ward s automotive reports said the Industry expects to increase sales to Over 550,000 cars in  boost May whittle Down a near record inventory of 1 million cars. Ward s said the Industry sold 943,000 cars in the first two months of the year a full 214.000 above the 729,000 sold in january and february of 1961. General motors dealers earned 57.4 per cent of the february Market. Ford motor co. 27.1 per cent Chrysler corp. &3 per cent american motors 6.2 per cent and Studebaker Packard 1 per cent. Despite the million car backlog. Ward s described the inventory Tii tuntion As under Good control with a 55.000 unit increase during february Only half of the 123.000 unit Oknin experienced during Jan uary. Chicago up International Harvester co. Has Roj oru d sharply increased gales and earnings in the first que in try of its 1962 fiscal year. Consolidated sales of the firm Anil its subsidiaries for the three months ending Jan. 31 totalled s383.4fll.000. Up 20.fi per cent from5317,934.000 a year earlier. Net income for the Quarter amounted to 57,208.000 or 41 cents a common share compared with $505,000 or a deficit of 7 cents per share after allowing for pre erred dividends last year. New York also reported a increase in earnings of tact Yea compared with 1960. Slow Kholmer equity 1 to s20.198 million or $2.48 compared with 51.88 a share a year earlier. Stockholders will be asked to ratify the name change at the annual meeting april 4. Graham Paige was the old Paige Detroit Auto co. Which made first the Paige and then Graham cars. The Auto business was sold at the close of world War ii to the Kaiser Fraser industries and Graham Paige became an invest ment company in 1948. It now owns in addition to Madi son Square Garden it per cent of Crose United corp. Makei of pipe line equipment and a number of parking lot and realty investment properties. Crose United earned $394,723 in 1961 compared with $344.389 ini960. Graham Paige concluded an  with the Pennsylvania Railroad last year to build a new larger Madison Square Garden above Pennsylvania station inner York it will be the third Madison Square Garden. The first designed by architect Stanford White was actually at Madison Square. The present Struc lure is on 81 h Avenue. Sec report warns on part time salesmen Washington up the securities and Exchange commis Sion has warned that a record volume at securities is being sold to the Public. In part by new and inexperienced  salesmen Are inadequately supervised the Sec said and some work part time or from their own Homes. The Agency estimated there Are about 93,000 registered Securi ties salesmen. These conditions the Sec Tol Congress in its annual report have made it More difficult to insure that prospective investors receive adequate information and proper advice As to the suitability of particular securities to meet their personal investment  the High level of Public interest and participation in the securities markets has offered a Fertile Fieldor unscrupulous operators and promoters the Sec said. To thwart Uch persons it said the commission is pursuing a vigorous enforcement  operations from foreign bases continue to plague our enforce ment efforts the five commissioners said. Despite excellent cooperation from Canadian authorities it is most difficult to combat i n flu Stria list buys control of Seiberling Toledo Ohio up Toledo industrialist Edward Lamb said he had acquired 51 per cent of the Stock of Sef Berlisk rubber co. Climaxing a six year struggle for ownership of the Akron area com Pany. I did not buy control of Che company to liquidate if Lamb said. Seiberling Wilt remain a Symbol of product Quality but now will also become a Symbol of Suc  lambs associates pointed out his May constitute one of the few examples in history where an individual has purchased a majority of a company s Stock on the new York Stock Exchange. Lamb. 59, began buying Stock six years ago when he lost a proxy Mittle for control of the 15-Man Board of directors. Could Call meeting with 51 Oer cent of the Slock. Lamb now apparently has eight seats on the Board and could Call a special meeting of the share holders. But he made no indication of such a plan the company s annual meetings scheduled in Barberton. An a Ron suburb in May. I Lamb and he hoped to reduce the Board to seven or nine working member who regularly attend  Seiberling lost s684jooo last year Lamb said. Our key Point is to change the loss pattern to a Cess pattern fraudulent activities carried on from Vantage Points outside  the Sec said Little in Ito report for the year ended hut june 3ft about the major invest cation of securities exchanges and markets it began last autumn to the direction of Congress. The inquiry is the broadest an deepest Ever made by the govern ment. It includes the new York Stock Exchange other exchanges and the Over the counter Market. Valuable Bifani by the time the investigation is completed Jan. 3, 1963 at the latest it will have produced much valuable information As t distribution and trading practice both on and off the exchanges the Sec said. The Agency promised to sub Mit to Congress recommendation for any legislation which seemed desirable. Other highlights of the report the Public has a Strong taste for new securities and Many new issues have jumped sharply in Price from the very first hour they were on the Market. The Sec in an Effort to discover any Price rigging has conducted More Market quizzes than Ever before. But us investigations have been hampered by Lack of any systematic report ing of prices and volume of trans actions in the Over the counter Market investment companies notably Mutual funds have played an increasingly important role in the securities Industry. The number of investment companies registered with the Sec Rose from 366 in 1960 to 663 by 1961. Shares in invest ment companies Are being sold by door to door salesmen and through periodic payment plans. The number of customer s me registered with the . Stock Exchange increased from 10,608 in 136 to 27.896 in 1961. The number registered with National association of securities dealers leaped fcom28.794 to 93,351. . Exchange s most Active list new York a n  or i a i it Sim a my a i u s 8t Irti non Rio 87.900 to am toll  in Ati minium Ltd  38 a Twat As n a i % to wac 14% 1% 17% it Ait a it %